With the entry of a new partner – GEMO OLOMOUC, spol. s r.o. – in PASSERINVEST GROUP’s and Multi Development’s Nová Karolina Park project in Ostrava, work will resume on the construction of the office building, the last of three buildings that make up phase 1 of one of the largest current development projects in the Czech Republic.

At a press conference held on Thursday, 23 June 2011 at 10 a.m. in the Parnik Club in Ostrava, representatives from PASSERINVEST GROUP, Multi Development and GEMO OLOMOUC announced the resumption of the Nová Karolina Park administration building project that had been put on hold due to the ongoing economic crisis. The entry of GEMO OLOMOUC as a new partner in the Nová Karolina Park project makes it possible to commence work again on this remarkable office facility. The construction firm of GEMO OLOMOUC is the general contractor for the commercial-entertainment centre, the developer of the Nová Karolina Residence project and now the new co-developer and general contractor for the construction of the Nová Karolina Park administration building.

Designed by Vít Máslo and David R. Chisholm from CMC Architects, the modern uniform volume of the six-storey Nová Karolina Park office building is sensitively incorporated into the existing character of the surrounding buildings and represents an imaginary gate between the Nová Karolina development and the historic centre of Ostrava. The building offers 24,600 m2 of prime office space on six floors; the ground floor features 3,700 m2 of commercial and restaurant space. The building’s underground parking lot has spaces for 280 vehicles.

The administration building along with the commercial and entertainment centre and the residential buildings represent phase 1 of the Nová Karolina development project in urban Ostrava. The following phases of the development are to include a 24,000 m2 multi-purpose centre that will contain 86,000 m2 of retail space, residential buildings with approximately 1,200 units, 60,000 m2 of office space, a 12,000 m2 relaxation, entertainment and sports facility, extensive parking facilities, green spaces and spaces with additional uses.

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Olomouc, 23.06.2011